SocietyOne vs RateSetter
Compare two of Australia's most prominent peer-to-peer lenders to find out which one will work for you.
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- Please note that RateSetter has been rebranded to Plenti. The information on RateSetter has been kept for the benefit of those who are interested and historical records only.
Peer-to-peer (P2P) loans offer a number of benefits to borrowers, including very competitive rates that are tailored to your credit position and a fast turnaround time. But which lender will offer you the best P2P option? On this page, we compare the costs and main features of two of Australia's main P2P lenders, SocietyOne and RateSetter.
|Interest rate||From 6.39% p.a.||From 6.49% p.a. (variable rate)|
From 6.49% p.a. (fixed rate)
|Interest rate type||Fixed||Variable rate (rates from 6.49% p.a. with terms from 1 year)|
Fixed rate (rates from 6.49% p.a.)
|Secured or unsecured||Unsecured||Secured or unsecured|
|Loan amounts||$5,000 to $50,000||$2,001 to $45,000|
|Loan terms||2 years to 5 years||1 year to 2 years|
|Early repayment without penalty?|
|More||Find out more||Find out more|
Both peer-to-peer lenders offer competitive rates that are tailored to your credit score. However, the lenders differ on features such as how much you can borrow, how long you can take out the loan for, whether the loan is unsecured or secured and the type of interest rate.
So, keep in mind what you are looking to get out of your personal loan and choose the loan that is right for you.
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RateSetter offers a range of benefits with its personal loans including personalised interest rates and transparent fees. Find out what you need to know before you get your rate estimate.
Peer-to-peer personal loans
The benefits of borrowing from a peer with the security of an established lender: This guide will take you through what you need to know about peer-to-peer lending in Australia, including who offers the loans.
SocietyOne Low Interest Personal Loan
Find out what rate you qualify for with Society One's innovative sliding interest rate scale. Loans are available up to $50,000, with flexible loan terms between two and three years. Find out how the loan works and if you're eligible to apply.
Personal Loan OffersImportant Information*
You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
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